AdvanSix (NYSE:ASIX) Stock Rating Upgraded by Zacks Research

AdvanSix (NYSE:ASIX) was upgraded by research analysts at Zacks Research to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Truist Financial upped their price target on shares of AdvanSix from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Loop Capital set a $25.00 target price on shares of AdvanSix in a research note on Thursday, March 12th. Weiss Ratings raised shares of AdvanSix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen lowered AdvanSix from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, AdvanSix presently has an average rating of “Hold” and a consensus target price of $25.67.

AdvanSix Stock Performance

Shares of NYSE ASIX opened at $22.38 on Tuesday. The firm has a 50 day moving average of $22.59 and a 200 day moving average of $19.03. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $603.47 million, a price-to-earnings ratio of 60.50 and a beta of 1.33. AdvanSix has a 12-month low of $14.10 and a 12-month high of $26.73.

AdvanSix (NYSE:ASIX) last announced its earnings results on Friday, May 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). The business had revenue of $404.18 million for the quarter, compared to the consensus estimate of $364.90 million. AdvanSix had a net margin of 0.67% and a return on equity of 2.18%. On average, research analysts anticipate that AdvanSix will post 0.89 earnings per share for the current year.

Institutional Investors Weigh In On AdvanSix

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. boosted its position in shares of AdvanSix by 115.2% during the first quarter. Sei Investments Co. now owns 81,461 shares of the company’s stock worth $1,988,000 after acquiring an additional 43,600 shares during the last quarter. Group One Trading LLC bought a new position in shares of AdvanSix during the first quarter worth $61,000. State of Wyoming boosted its position in shares of AdvanSix by 3,612.1% during the first quarter. State of Wyoming now owns 12,547 shares of the company’s stock worth $306,000 after acquiring an additional 12,209 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of AdvanSix by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,311,006 shares of the company’s stock worth $31,988,000 after acquiring an additional 8,131 shares during the last quarter. Finally, Waterfront Wealth Inc. boosted its position in shares of AdvanSix by 36.7% during the first quarter. Waterfront Wealth Inc. now owns 91,905 shares of the company’s stock worth $2,242,000 after acquiring an additional 24,655 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

About AdvanSix

AdvanSix, Inc (NYSE: ASIX) is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.

The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.